The Board of Directors has set up Committees in which the Board has delegated powers and duties, subject to the provisions of the Articles of Incorporation and the By-Laws.

Audit and Compliance Committee
Herminio A. Blanco - Chairman
Gonzalo Menéndez Duque
José Alberto Garzón
Javier González Fraga
Risk Policy and Assessment Committee
Miguel Heras - Chairman
Gonzalo Menéndez Duque
Ricardo Manuel Arango
Herminio A. Blanco
Mario Covo
Roland Holst 
Nomination and Compensation Committee
João Carlos de Nóbrega Pecego - Chairman
José Alberto Garzón
Javier González Fraga
Finance and Business Committee
Mario Covo - Chairman
Ricardo Manuel Arango
Miguel Heras
Roland Holst 
João Carlos de Nóbrega Pecego

Audit and Compliance Committee

Audit and Compliance Committee

The purpose of the Audit and Compliance Committee is to provide assistance to the Board in fulfilling its oversight responsibilities regarding the processing of the Bank’s financial information, the integrity of the Bank’s financial statements, the Bank’s system of internal controls over financial reporting, the performance of both the internal audit and the independent registered public accounting firm, the Bank’s corporate governance, compliance with legal and regulatory requirements and the Bank’s Code of Ethics.  

The Audit and Compliance Committee, in its capacity as a committee of the Board, is directly responsible for recommending to the shareholders  the renewal or replacement of the Bank’s independent auditors at the Annual Shareholders’ Meeting, the compensation of the independent auditors (including the pre-approval of all audit and non-audit services) and oversight of the independent auditors, including the resolution of disagreements regarding financial reporting between the Bank’s management and the independent auditors.  The Bank’s independent auditors are required to report directly to the committee.

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Nomination and Compensation Committee

Nomination and Compensation Committee

The Nomination and Compensation Committee’s primary responsibilities are to assist the Board by identifying candidates to become Board members and recommending nominees for the annual meetings of shareholders; by making recommendations to the Board concerning candidates for Chief Executive Officer and counseling on succession planning for executive officers; by recommending compensation for Board members and committee members, including cash and equity compensation; by recommending compensation policies for executive officers and employees of the Bank, including cash and equity compensation, policies for senior management and employee benefit programs and plans; by reviewing and recommending changes to the Bank’s Code of Ethics; and by advising executive officers on issues related to the Bank’s personnel.

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Risk Policy and Assessment Committee

Risk Policy and Assessment Committee

The Risk Policy and Assessment Committee is responsible for reviewing and recommending to the Board, for their approval, all policies related to the prudent enterprise risk management of the Bank (credit, operational and market risk).  The committee also reviews and evaluates the exposures, within the risk levels the Bank is willing to take, depending on the Bank’s business management, including the quality and profile of the Bank’s credit facilities, the exposure and analysis to market risks and operational risks, which take into account the legal risks associated with the Bank’s products and services.

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Finance and Business Committee

Finance and Business Committee

The fundamental role of the Finance and Business Committee is to review and analyze all issues related to the development and execution of the Bank’s business and its financial management, including, among others, capital management, portfolio management (assets and liabilities), liquidity management, gap and funding management, tax related matters and, the financial performance of the Bank in general.

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